Attribute the lower-key press coverage to the fact that it's the same old story with Google: search. "The most important
thing is that the core business is really strong," CEO Eric Schmidt said, as he does every quarter, which "allows us to take calculated risks in new markets." The most significant news, perhaps, was
the company naming Schmidt as its formal chairman.
Indeed, the real story will be the day bold acquisitions like YouTube and DoubleClick start contributing materially to Google's bottom line. Until then, not only will the press start to overlook Google earnings results, but investors will, too. Its search growth--while still phenomenal--is slowing, and will only continue. Google shares were up 4% in late trading.